Tuesday, 9 May 2017

NASCON NEW PRODUCTS TO BOOST REVENUE, PROFITABILITY

Executive Director Commercial of NASCON Allied Industries Plc, Fatima Aliko Dangote
has expressed delight at the expected significant increase in both turnover and
profitability of the company, as a result of the proposed new products, to be
released to the market before the end of this year.

In a chat with select media men on Tuesday, Fatima said the
arrangements for the launch of new products have been concluded and once
introduced into the market, both the turnover and profits of the company will
witness a significant increase.

According to her: “We are bringing other products that are going
to be launched this year. So, hopefully, 2017 will be a better year. We will
record a significant increase in both the revenue and profitability as a result
of the new products and this will be very good for our shareholders.”

She further assured that the company will “try as much as possible
to perform a lot better than we did in 2016. Obviously the shareholders are
aware that we are having some challenges from sourcing materials for some of
our products locally, but we are going to try as much as possible to do a lot
better.

We are investing so much in other things that we are presently
doing at the moment, we are expanding, we are investing on new refinery for our
salt and we are also looking at innovations…

We placed shareholders interest so high cos they have actually
trusted us, they have invested in our business and as you can see, regardless
of our challenges, we are still able to push really hard and declare profits.
we have to take our shareholders very importantly so that they can keep
trusting us, and more people will keep buying our shares and hold us in high
regards”

The company recorded a turnover of N18.29 billion, representing a
13 per cent increase over the N16.18 billion in the previous year. Profit after
tax increased by 15 per cent from N2.11 billion in 2015 to N2.42 billion, while
earnings per share also increased from 79 kobo to 91 kobo. As a sign of
stability, the company has N2.45 billion in cash reserves for the year under
review.

Recalled that the Chairperson of the company, Yemisi Ayeni at the
Annual General Meeting (AGM), held last week said for the company to increase
market share and improve efficiency, it will be “investing in Salt packaging
and seasoning cubing lines”.

For the year under review, she said while the revenue from the
sales of salt increased by 24 per cent to N14.82 billion, sales from seasoning
increased by 127 per cent to N0.54 billion.